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Breakfast Report - Cocoa Sugar Coffee OJ


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Breakfast Report - Cocoa Sugar Coffee OJ

Softs Technical Report

Actionable Trading Ideas that help you stay ahead of the markets"

Cocoa (May)

Technicals: Cocoa has mild resistance at 2397 which is the 200 DMA

The Trend trading system triggered a short on Feb 28th at 2671 and has a stop close only at 2413*

Bias: Bearish/Neutral

Previous Session Bias: Bearish/Neutral

Resistance: 2407***, 2685****

Pivot: 2413**** area where shorts move to the sidelines

Support: 2200***, 1800****

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200 DMA: 2685

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Sugar (May)

Technicals: The Trend Trading system established a short on March 2nd at 13.81 and the buy stop is at 13.10

Bias:Bearish/Neutral

Previous Session Bias:Bearish/Neutral

Resistance: 11.34***, 12,00****

Pivot: 13.10 *** Area where shorts move to the sidelines

Support: 10.68***, 9.89****

*Watch 10.68 this was the critical low that held back in September 2019

200 DMA: 13.76

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Coffee (May)

Technicals: Trend traders have been taken to the sidelines. They are working a buy trigger and sell trigger with the sell trigger on a break below 90.98 and a buy trigger at 120.46. It looks like this buy trigger will get hit but it will leave you with a substantial amount of risk if you use the sell trigger down at 90.98.

Bias: Bullish/Neutral

Previous Session Bias: Neutral

Resistance: 126.05***128.50****

Pivot:109.79

Support: 101.84***, 99.55****

200 DMA: 109.77

Remember there are many factors that could affect the direction of the metals markets so be sure to stay up to date on the developments by registering for a Free two-week trial of the Blue Line Futures Morning Express by clicking on the link here: The Blue Line Express Two-Week Free Trial Sign up

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Orange Juice (May)

Technicals: Trend Traders are back on the long side with the long at 97.18 and the sell trigger at 92.62

Bias: Bullish/Neutral

Previous Session Bias: Neutral

Resistance: 107.50***, 110.00****

Pivot:99.19 (also the 200 DMA)

Support: 97.15***, 92.15****

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Good luck and good trading,

Phillip Streible

Chief Market Strategist

312-858-7303

Phil@Bluelinefutures.com

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Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

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About the author


Phillip Streible is a Series 3 licensed Chief Market Strategist at Blue Line Futures and specializes in working with clients in developing futures and options strategies in the metals markets. As the Chief Market Strategist his goal is to show clients how to anticipate, recognize and react to bull and bear market conditions through the use of fundamental and technical analysis techniques that help them to define risk. With more than 16 years of experience working with clients, Phillip ran one of the largest retail commodities desks while at Lind-Waldock where he focused on metals, energies, currencies and agricultural markets. 

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